Economics Made Economical

Could Legalized Marijuana Jumpstart Our Economy?

There has been more talk than ever before recently about legalization or decriminalization of marijuana, the use of marijuana medicinally, and even the potential for the states to each decide their own marijuana laws.

In all possible hypothetical scenarios strong regulation of the marijuana market, including heavily taxing marijuana purchases to dissuade its use, is of course a standard part of the package.

Could this new source of tax revenue be a boon for our economy? Is this what we need? Could society potentially kill two birds with one stone, reducing society’s marijuana use and generating income, with one action to liberalize the marijuana economy? I think it can, in the same way that increased state taxes on cigarettes have led to sharp decreases in the states’ smoking rates while simultaneously giving their governments a revenue boost.


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